Zambia Copper Smelters Extended Shutdowns

Two of Zambia's largest copper smelters, Mopani Copper Mines and Chambishi Metals PLC, are scheduled for extended maintenance shutdowns later this year. Mopani Copper Mines will close for 40-45 days between August and mid-September, in addition to a three-day closure in June, due to overdue maintenance and underinvestment. Chambishi Metals PLC, 85% owned by China Nonferrous Metal Mining Group, will shut down for approximately two months through August. These shutdowns will further squeeze global Copper output and supplies of Sulfuric acid, a critical chemical for processing copper and cobalt. The Iran war has already disrupted global Sulfuric acid supplies, forcing mines in the Democratic Republic of the Congo to cut usage or consider output reductions. Zambia has also tightened controls on Sulfuric acid exports to protect its local industry, as its own stocks are depleted. First Quantum Minerals' country director in Zambia, Anthony Mukutuma, confirmed that exports are unlikely in the near term. The reduced output from Zambia, Africa's second-largest copper producer, will contribute to a tightening global Copper supply, which has already been constrained by years of underinvestment.